What is Merck & Co's forward P/E?

Merck & Co's forward P/E is 18.25: today's price over the analysts' average EPS estimate for the next twelve months, the earnings expected rather than those reported. By fiscal year, it trades at 53.0 times its FY2026 earnings and 16.5 times its FY2027 earnings.

What is Merck & Co's PEG ratio?

Merck & Co's PEG ratio is 24.28: its P/E of 149.70 over the 6.2% a year the analysts expect its earnings per share to grow from FY2025 to FY2030. Around 1 is often read as a P/E in line with the growth; above it, the price asks for more.

Merck & Co
D
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MRK

Arincen ScoreBeta67/100

67/100B

146.710

USD

-0.21

(-0.14%)

Post Trading·146.910USD+0.200(+0.14%)

Last updated: 9 Nov, 07:20 GMT-5 · Delayed 15 min

Fair valueNot reliable

Q4 FY2026 · Earnings report

EPS estimate 1.78Revenue estimate 16.29B

Q4 FY2026 · Earnings report

Tuesday 2 February

EPS estimate 1.78Revenue estimate 16.29B

Fair valueNot reliable

Q4 FY2026 · Earnings report

EPS estimate 1.78Revenue estimate 16.29B

Q4 FY2026 · Earnings report

Tuesday 2 February

EPS estimate 1.78Revenue estimate 16.29B

Overview Financials Signals News Forecast Earnings Dividends Company

Merck & Co P/E ratioWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.

Merck & Co's P/E ratio is 149.70: its share price of 146.71 over its earnings per share of 0.98 over the last twelve months.

Today: 149.70
Forward P/E, next 12 months: 18.25
PEG ratio: 24.28
Median, 5 years: 20.21
Low, 5 years: 10.67
High, 5 years: 879.40

P/E ratio = price ÷ EPS (last 12 months) = 146.71 ÷ 0.98 = 149.70

Each day's closing price over the earnings per share of the last four quarters reported by that day (basic EPS, adjusted for splits). The P/E moves with the price every day and with the earnings at each report.

The forward P/E divides the price by the analysts' average EPS estimate for the next twelve months: the fiscal year in progress for the months left in it, the next one for the rest. For past days it uses each year's latest estimate, as the estimates of the time were not recorded (we keep a daily copy from November 2026), so the past line reads the price against the earnings expected by the time each year was reported.

Is Merck & Co's P/E high compared with its own history?Is the P/E high or low for this stock? Today's P/E against every daily P/E of the stock's last 5 years, with the growth analysts expect: whether the stock is expensive or cheap compared with itself, and whether its growth explains it.

Merck & Co's P/E of 149.7 is near the top of its 5-year range (10.7 to 879.4, median 20.2). Analysts do not expect faster growth than in recent years, so it is expensive compared with its own history.

5-year range of the daily P/E

Median 20.2

Today 149.7

10.7

879.4

The price against its P/E range

At its 5-year high P/E (879.4)At its median P/E (20.2)At its 5-year low P/E (10.7)Price

Each line is the earnings per share of the day times one P/E of the last five years: the price near the top line is near the most it was paid for those earnings, near the bottom line the least.

Growth a year: the past against what analysts expect

EPSSlower
Expected, to FY2028 10.9%Past 5 years 21.2%Past 3 years 8.4%
RevenueSlower
Expected, to FY2028 4.3%Past 5 years 9.4%Past 3 years 3.1%

	Past 5 years	Past 3 years	Expected, to FY2028	Expected against the past
EPS	21.2%	8.4%	10.9%	Slower
Revenue	9.4%	3.1%	4.3%	Slower

Buyers pay more for each point of growth than usual: a PEG of 13.8 on expected growth against 1.0 on its median P/E and past five years' growth.

What changed in 5 years

Debt is lower than in FY2020: 1.8 times EBITDA against 3.3.
Operating margin is higher than in FY2020: ⁦36.2%⁩ against ⁦13.4%⁩.
Unusual tax: FY2020 at ⁦22.9%⁩, FY2023 at ⁦80.0%⁩ against a usual ⁦13.7%⁩, which moves that year's profit and the P/E readings that include it.
Since 9 November 2021 the price has changed ⁦+77.3%⁩: earnings per share ⁦−65.6%⁩ and the P/E ⁦+415.7%⁩.

Is the price fair? See the whole check

A P/E is compared with the stock's own last five years, not with other companies. Why the market pays more or less (news, rates, the sector) is not in these figures.

P/E ratio by year and by quarter

Fiscal year	Period ending	P/E ratio	Forward P/E	Market cap	Net income
FY2027 · Estimate	31 Dec 2027	16.46	—	—	—
FY2026 · Estimate	31 Dec 2026	53.00	—	—	—
Today		149.70	18.25	361.96B	2.45B
FY2025	31 Dec 2025	14.43	38.03	263.36B	18.25B
FY2024	31 Dec 2024	14.70	11.13	251.88B	17.13B
FY2023	31 Dec 2023	760.75	14.55	277.67B	365.00M
FY2022	31 Dec 2022	19.34	79.62	280.93B	14.53B
FY2021	31 Dec 2021	15.69	10.36	193.90B	12.36B
FY2020	31 Dec 2020	27.87	14.11	197.34B	7.08B
FY2019	31 Dec 2019	22.75	15.89	222.44B	9.78B
FY2018	31 Dec 2018	30.50	15.51	188.89B	6.19B
FY2017	31 Dec 2017	59.83	13.64	144.67B	2.42B
FY2016	31 Dec 2016	39.15	15.66	154.29B	3.94B
FY2015	31 Dec 2015	31.42	14.64	140.09B	4.46B
FY2014	31 Dec 2014	12.88	16.66	153.69B	11.93B
FY2013	31 Dec 2013	30.93	15.73	139.70B	4.52B
FY2012	31 Dec 2012	18.76	12.43	118.16B	6.30B
FY2011	31 Dec 2011	17.10	11.45	109.32B	6.39B
FY2010	31 Dec 2010	108.32	10.23	106.38B	982.00M
FY2009	31 Dec 2009	5.64	12.01	73.46B	13.02B
FY2008	31 Dec 2008	7.93	9.99	61.92B	7.81B
FY2007	31 Dec 2007	36.72	19.23	120.27B	3.28B
FY2006	31 Dec 2006	20.42	15.75	90.52B	4.43B
FY2005	31 Dec 2005	14.39	14.32	66.64B	4.63B
FY2004	31 Dec 2004	11.70	13.55	68.01B	5.81B
FY2003	31 Dec 2003	14.42	16.37	98.53B	6.83B
FY2002	31 Dec 2002	17.04	18.25	121.86B	7.15B
FY2001	31 Dec 2001	17.62	18.71	128.30B	7.28B
FY2000	31 Dec 2000	30.19	30.20	205.94B	6.82B
FY1999	31 Dec 1999	25.55	24.96	150.48B	5.89B
FY1998	31 Dec 1998	31.90	30.28	167.42B	5.25B
FY1997	31 Dec 1997	26.32	24.75	121.46B	4.61B
FY1996	31 Dec 1996	23.73	20.94	92.08B	3.88B
FY1995	31 Dec 1995	23.19	—	77.36B	3.34B
FY1994	31 Dec 1994	15.25	—	45.71B	3.00B
FY1993	31 Dec 1993	17.45	—	37.79B	2.17B
FY1992	31 Dec 1992	15.82	—	38.71B	2.45B
FY1991	31 Dec 1991	28.76	—	61.02B	2.12B
FY1990	31 Dec 1990	18.78	—	33.44B	1.78B
FY1989	31 Dec 1989	19.56	—	29.24B	1.50B
FY1988	31 Dec 1988	18.00	—	21.72B	1.21B
FY1987	31 Dec 1987	22.70	—	20.58B	906.40M
FY1986	31 Dec 1986	24.30	—	16.42B	675.70M
FY1985	31 Dec 1985	17.29	—	9.33B	539.90M

Quarter	Period ending	P/E ratio	Forward P/E	Market cap	Net income
Q3 FY2026	30 Sept 2026	146.97	19.74	360.08B	2.45B
Q2 FY2026	30 Jun 2026	100.21	22.09	317.65B	3.17B
Q1 FY2026	31 Mar 2026	33.28	28.09	297.36B	8.94B
Q4 FY2025	31 Dec 2025	14.26	38.03	260.48B	18.26B
Q3 FY2025	30 Sept 2025	11.00	19.41	209.41B	19.05B
Q2 FY2025	30 Jun 2025	12.10	13.46	198.69B	16.42B
Q1 FY2025	31 Mar 2025	12.98	12.10	226.46B	17.45B
Q4 FY2024	31 Dec 2024	14.75	11.13	252.78B	17.13B
Q3 FY2024	30 Sept 2024	23.72	13.23	288.56B	12.16B
Q2 FY2024	30 Jun 2024	23.58	15.08	324.10B	13.75B
Q1 FY2024	31 Mar 2024	143.57	16.77	331.80B	2.31B
Q4 FY2023	31 Dec 2023	762.89	14.55	278.46B	365.00M
Q3 FY2023	30 Sept 2023	56.67	17.28	261.18B	4.61B
Q2 FY2023	30 Jun 2023	94.02	26.05	292.98B	3.12B
Q1 FY2023	31 Mar 2023	20.71	36.75	270.02B	13.04B
Q4 FY2022	31 Dec 2022	19.37	79.62	281.37B	14.53B
Q3 FY2022	30 Sept 2022	14.23	29.78	218.14B	15.33B
Q2 FY2022	30 Jun 2022	13.86	20.71	230.75B	16.65B
Q1 FY2022	31 Mar 2022	15.39	13.88	207.42B	13.48B
Q4 FY2021	31 Dec 2021	16.25	10.36	193.67B	11.92B
Q3 FY2021	30 Sept 2021	31.64	10.75	190.03B	6.01B
Q2 FY2021	30 Jun 2021	44.99	11.81	196.99B	4.38B
Q1 FY2021	31 Mar 2021	28.14	12.44	186.08B	6.61B
Q4 FY2020	31 Dec 2020	27.87	14.11	197.36B	7.08B
Q3 FY2020	30 Sept 2020	17.34	14.34	200.08B	11.54B
Q2 FY2020	30 Jun 2020	17.76	13.39	186.50B	10.50B
Q1 FY2020	31 Mar 2020	18.27	13.19	185.16B	10.13B
Q4 FY2019	31 Dec 2019	22.52	15.89	220.18B	9.78B
Q3 FY2019	30 Sept 2019	22.28	15.24	204.76B	9.19B
Q2 FY2019	30 Jun 2019	22.44	15.77	207.42B	9.24B
Q1 FY2019	31 Mar 2019	24.68	16.24	205.17B	8.31B
Q4 FY2018	31 Dec 2018	30.50	15.51	188.89B	6.19B
Q3 FY2018	30 Sept 2018	53.70	15.02	181.35B	3.38B
Q2 FY2018	30 Jun 2018	112.97	13.41	154.54B	1.37B
Q1 FY2018	31 Mar 2018	87.24	12.60	139.85B	1.60B
Q4 FY2017	31 Dec 2017	59.83	13.64	144.67B	2.42B
Q3 FY2017	30 Sept 2017	58.03	15.86	166.48B	2.87B
Q2 FY2017	30 Jun 2017	32.62	16.25	166.65B	5.11B
Q1 FY2017	31 Mar 2017	38.02	16.49	166.04B	4.37B
Q4 FY2016	31 Dec 2016	39.15	15.66	154.29B	3.94B
Q3 FY2016	30 Sept 2016	29.83	16.76	164.35B	5.51B
Q2 FY2016	30 Jun 2016	29.49	15.64	151.92B	5.15B
Q1 FY2016	31 Mar 2016	30.17	14.51	139.72B	4.63B
Q4 FY2015	31 Dec 2015	31.42	14.64	140.09B	4.46B
Q3 FY2015	30 Sept 2015	12.21	13.88	131.96B	10.80B
Q2 FY2015	30 Jun 2015	15.62	16.23	153.28B	9.82B
Q1 FY2015	31 Mar 2015	13.89	16.63	155.02B	11.16B
Q4 FY2014	31 Dec 2014	12.88	16.66	153.69B	11.93B
Q3 FY2014	30 Sept 2014	29.82	17.69	161.69B	5.42B
Q2 FY2014	30 Jun 2014	27.91	17.56	159.95B	5.73B
Q1 FY2014	31 Mar 2014	34.23	17.53	158.58B	4.63B
Q4 FY2013	31 Dec 2013	30.93	15.73	139.70B	4.52B
Q3 FY2013	30 Sept 2013	28.57	14.83	132.89B	4.65B
Q2 FY2013	30 Jun 2013	24.56	14.34	129.26B	5.26B
Q1 FY2013	31 Mar 2013	20.76	13.53	127.60B	6.15B
Q4 FY2012	31 Dec 2012	18.76	12.43	118.16B	6.30B
Q3 FY2012	30 Sept 2012	19.04	11.45	131.24B	6.89B
Q2 FY2012	30 Jun 2012	17.65	11.45	120.98B	6.85B
Q1 FY2012	31 Mar 2012	15.72	11.45	111.40B	7.09B
Q4 FY2011	31 Dec 2011	17.10	11.45	109.32B	6.39B
Q3 FY2011	30 Sept 2011	22.01	9.76	95.72B	4.35B
Q2 FY2011	30 Jun 2011	34.62	10.36	103.74B	3.00B
Q1 FY2011	31 Mar 2011	56.38	9.53	97.12B	1.72B
Q4 FY2010	31 Dec 2010	107.80	10.23	105.86B	982.00M
Q3 FY2010	30 Sept 2010	13.50	10.82	108.11B	8.01B
Q2 FY2010	30 Jun 2010	9.36	10.66	103.83B	11.09B
Q1 FY2010	31 Mar 2010	9.33	11.82	111.02B	11.90B
Q4 FY2009	31 Dec 2009	5.64	12.01	73.48B	13.02B
Q3 FY2009	30 Sept 2009	7.81	10.40	63.61B	8.14B
Q2 FY2009	30 Jun 2009	9.73	9.19	56.25B	5.78B
Q1 FY2009	31 Mar 2009	9.02	8.79	53.79B	5.96B
Q4 FY2008	31 Dec 2008	7.84	9.99	61.19B	7.81B
Q3 FY2008	30 Sept 2008	14.13	10.39	64.05B	4.53B
Q2 FY2008	30 Jun 2008	15.52	12.43	77.07B	4.97B
Q1 FY2008	31 Mar 2008	16.04	12.54	78.18B	4.87B
Q4 FY2007	31 Dec 2007	36.70	19.23	120.20B	3.28B
Q3 FY2007	30 Sept 2007	20.25	17.48	108.94B	5.38B
Q2 FY2007	30 Jun 2007	21.56	17.20	103.39B	4.80B
Q1 FY2007	31 Mar 2007	19.68	15.59	90.87B	4.62B
Q4 FY2006	31 Dec 2006	20.35	15.75	90.21B	4.43B
Q3 FY2006	30 Sept 2006	17.11	15.92	86.90B	5.08B
Q2 FY2006	30 Jun 2006	13.58	14.61	75.49B	5.56B
Q1 FY2006	31 Mar 2006	15.35	14.94	73.37B	4.78B
Q4 FY2005	31 Dec 2005	14.31	14.32	66.28B	4.63B
Q3 FY2005	30 Sept 2005	12.34	12.05	56.93B	4.61B
Q2 FY2005	30 Jun 2005	14.32	13.41	64.67B	4.52B
Q1 FY2005	31 Mar 2005	12.24	13.87	68.14B	5.56B
Q4 FY2004	31 Dec 2004	11.67	13.55	67.86B	5.81B
Q3 FY2004	30 Sept 2004	11.43	13.28	69.82B	6.11B
Q2 FY2004	30 Jun 2004	15.15	18.28	100.61B	6.64B
Q1 FY2004	31 Mar 2004	13.90	16.30	93.66B	6.74B
Q4 FY2003	31 Dec 2003	14.35	16.37	98.00B	6.83B
Q3 FY2003	30 Sept 2003	14.74	17.50	107.98B	7.33B
Q2 FY2003	30 Jun 2003	21.92	20.43	129.42B	5.90B
Q1 FY2003	31 Mar 2003	16.20	18.06	117.22B	7.23B
Q4 FY2002	31 Dec 2002	16.96	18.25	121.28B	7.15B
Q3 FY2002	30 Sept 2002	13.77	14.69	98.07B	7.12B
Q2 FY2002	30 Jun 2002	12.18	16.22	105.17B	8.63B
Q1 FY2002	31 Mar 2002	17.21	18.38	124.74B	7.25B
Q4 FY2001	31 Dec 2001	17.49	18.71	127.35B	7.28B
Q3 FY2001	30 Sept 2001	20.70	21.26	148.71B	7.19B
Q2 FY2001	30 Jun 2001	19.74	20.47	139.60B	7.07B
Q1 FY2001	31 Mar 2001	23.89	24.39	166.72B	6.98B
Q4 FY2000	31 Dec 2000	30.15	30.20	205.65B	6.82B
Q3 FY2000	30 Sept 2000	24.62	24.83	163.21B	6.63B
Q2 FY2000	30 Jun 2000	26.53	26.46	168.05B	6.33B
Q1 FY2000	31 Mar 2000	22.54	22.24	137.29B	6.09B
Q4 FY1999	31 Dec 1999	25.20	24.96	148.46B	5.89B
Q3 FY1999	30 Sept 1999	25.60	24.66	146.38B	5.72B
Q2 FY1999	30 Jun 1999	29.85	28.69	165.50B	5.55B
Q1 FY1999	31 Mar 1999	33.52	32.01	180.45B	5.38B
Q4 FY1998	31 Dec 1998	31.30	30.28	164.25B	5.25B
Q3 FY1998	30 Sept 1998	29.11	27.38	148.14B	5.09B
Q2 FY1998	30 Jun 1998	30.46	29.20	149.87B	4.92B
Q1 FY1998	31 Mar 1998	30.52	28.93	145.22B	4.76B
Q4 FY1997	31 Dec 1997	26.03	24.75	120.10B	4.61B
Q3 FY1997	30 Sept 1997	25.86	24.03	114.16B	4.42B
Q2 FY1997	30 Jun 1997	27.82	25.34	117.39B	4.22B
Q1 FY1997	31 Mar 1997	24.19	21.50	97.66B	4.04B
Q4 FY1996	31 Dec 1996	23.74	20.94	92.12B	3.88B
Q3 FY1996	30 Sept 1996	21.66	—	80.03B	3.70B
Q2 FY1996	30 Jun 1996	21.55	—	76.63B	3.56B
Q1 FY1996	31 Mar 1996	21.66	—	74.56B	3.44B
Q4 FY1995	31 Dec 1995	23.05	—	76.87B	3.34B
Q3 FY1995	30 Sept 1995	20.23	—	65.75B	3.25B
Q2 FY1995	30 Jun 1995	18.09	—	57.42B	3.17B
Q1 FY1995	31 Mar 1995	16.12	—	49.65B	3.08B
Q4 FY1994	31 Dec 1994	14.82	—	44.42B	3.00B
Q3 FY1994	30 Sept 1994	14.83	—	42.99B	2.90B
Q2 FY1994	30 Jun 1994	12.40	—	34.95B	2.82B
Q1 FY1994	31 Mar 1994	15.92	—	35.46B	2.23B
Q4 FY1993	31 Dec 1993	17.23	—	37.33B	2.17B
Q3 FY1993	30 Sept 1993	16.11	—	33.37B	2.07B
Q2 FY1993	30 Jun 1993	18.48	—	37.15B	2.01B
Q1 FY1993	31 Mar 1993	15.39	—	38.35B	2.49B
Q4 FY1992	31 Dec 1992	19.35	—	47.34B	2.45B
Q3 FY1992	30 Sept 1992	20.38	—	48.84B	2.40B
Q2 FY1992	30 Jun 1992	22.72	—	52.36B	2.30B
Q1 FY1992	31 Mar 1992	24.10	—	53.18B	2.21B
Q4 FY1991	31 Dec 1991	28.70	—	60.90B	2.12B
Q3 FY1991	30 Sept 1991	23.40	—	47.60B	2.03B
Q2 FY1991	30 Jun 1991	21.94	—	42.72B	1.95B
Q1 FY1991	31 Mar 1991	20.74	—	38.59B	1.86B
Q4 FY1990	31 Dec 1990	18.63	—	33.18B	1.78B
Q3 FY1990	30 Sept 1990	17.37	—	29.64B	1.71B
Q2 FY1990	30 Jun 1990	19.85	—	32.40B	1.63B
Q1 FY1990	31 Mar 1990	16.82	—	26.22B	1.56B
Q4 FY1989	31 Dec 1989	18.92	—	28.30B	1.50B
Q3 FY1989	30 Sept 1989	19.28	—	27.66B	1.43B
Q2 FY1989	30 Jun 1989	18.70	—	25.36B	1.36B
Q1 FY1989	31 Mar 1989	19.29	—	24.61B	1.28B
Q4 FY1988	31 Dec 1988	18.00	—	21.72B	1.21B
Q3 FY1988	30 Sept 1988	19.19	—	21.72B	1.13B
Q2 FY1988	30 Jun 1988	20.00	—	21.16B	1.06B
Q1 FY1988	31 Mar 1988	21.00	—	20.51B	976.50M
Q4 FY1987	31 Dec 1987	21.95	—	19.90B	906.40M
Q3 FY1987	30 Sept 1987	31.95	—	27.02B	845.80M
Q2 FY1987	30 Jun 1987	28.50	—	22.26B	781.20M
Q1 FY1987	31 Mar 1987	28.01	—	20.15B	719.30M
Q4 FY1986	31 Dec 1986	23.88	—	16.14B	675.80M
Q3 FY1986	30 Sept 1986	20.77	—	13.26B	638.40M
Q2 FY1986	30 Jun 1986	23.39	—	14.07B	601.40M
Q1 FY1986	31 Mar 1986	—	—	11.69B	—
Q4 FY1985	31 Dec 1985	—	—	9.19B	—
Q3 FY1985	30 Sept 1985	—	—	7.44B	—

Figures in USD. A quarter's revenue, net income and dividends are those of its last four quarters. A forecast year's P/E is today's price over the analysts' EPS estimate for that year.

Common questions about Merck & Co's P/E ratio

Source: Financial Modeling Prep

Merck & Co
D
Quotes are delayed by 15 minutes

MRK

Merck & Co P/E ratioWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.

Is Merck & Co's P/E high compared with its own history?Is the P/E high or low for this stock? Today's P/E against every daily P/E of the stock's last 5 years, with the growth analysts expect: whether the stock is expensive or cheap compared with itself, and whether its growth explains it.

The price against its P/E range

Growth a year: the past against what analysts expect

What changed in 5 years

P/E ratio by year and by quarter

Common questions about Merck & Co's P/E ratio

What is Merck & Co's P/E ratio?

Is Merck & Co's P/E ratio high or low?

What is Merck & Co's forward P/E?

What is Merck & Co's PEG ratio?

Need help?

Merck & Co DQuotes are delayed by 15 minutes

MRK

Merck & Co P/E ratioWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.

Is Merck & Co's P/E high compared with its own history?Is the P/E high or low for this stock? Today's P/E against every daily P/E of the stock's last 5 years, with the growth analysts expect: whether the stock is expensive or cheap compared with itself, and whether its growth explains it.

P/E ratio by year and by quarter

Common questions about Merck & Co's P/E ratio

What is Merck & Co's P/E ratio?

Is Merck & Co's P/E ratio high or low?

What is Merck & Co's forward P/E?

What is Merck & Co's PEG ratio?

Need help?

Merck & Co
D
Quotes are delayed by 15 minutes